They say all good things must come to an end, and from my view this morning, that’s where we’re at with Black Friday sales.
They used to be a focused, one-day event with the sole purpose of taking all the “open to buy” money out of the market early. Instead of shopping between now and Christmas, incredible deals gobbled up all your money and all your shopping was done before the first ornament on the Christmas tree was hung.
Back in the 80s, the deals were so powerful, people got up early, as stores would open at 7 AM to allow you to get that incredible deal. We’d all wait in line, and when the doors opened, it was like the opening of the gates for Game 7 of the World Series. Retailers would have a reasonable but not excessive supply of inventory, and in many cases, you’d get what you wanted.
But then businesses made the oldest mistake in the book. They reasoned if X was good, 2X would be better and 5X would be fantastic, failing to realize that’s the same logic drug addicts use. To this day, retailers still keep trying to increase the dosage.
The hours got extended so it wasn’t 6 AM, it was 5 AM, then 4, then midnight. The inventory on hand was curtailed because dealers liked seeing people race in to get what turned out to only be 10 items in reserve for a door buster. Well, they did until in bigger cities, people started fighting in stores for one of those ten, scaring potential shoppers from coming, lest they hear their spouses say “cover me, I’m going in for a cheap TV.”
Then the online merchants joined the party in the last 15 years and there was really no need to physically go into a brick and mortar store. They turned Black Friday into a week, then a month, then through what Amazon called its Amazon Days, got spread throughout the year. Several times a year you now get to experience these once-a-year deals that look mysteriously like the lowest price you just saw last month. I mean, how many times a year can Amazon offer a firestick at 50% off before it’s no longer a big deal?
I used to look forward to the day certain websites compiled their secret list of Black Friday circulars so you could make appropriate plans for these bargain door busters, and I’d get on email mailing lists from key stores just so I’d know of their plans earlier than the average Joe.
But the deals this year are so weak, and customers have been so programmed to seeing “best sale of the year” every other week, I don’t sense any real excitement about Black Friday any more. I’m a notorious bottom feeder when it comes to bargains, as my wife mocks me for spending time every week reading each page of grocery circulars to get the best deals.
But I haven’t seen any deals out there which would motivate me to buy something now instead of later, which was the original purpose of Black Friday. A lot of businesses are just putting an average deal out there because they feel like they have to, not necessarily to pull in customers the day after Thanksgiving. I saw one person on social media say “if it doesn’t say 80 percent off on Black Friday, I’m not even going to open the email.”
The process has made many products a commodity, which should help small businesses that have unique products and provide great customer service. Price becomes secondary when you have a product you can’t get anywhere else. Treating that opportunity to sell products to a new customer with the same attention you would a friend or family member creates a customer for life whenever they need more.
I was never a big fan of Black Friday sales, but it does bring back an occasional memory. There is a very nice clock in our den that sits on a shelf that we did not need, but it’s been there for close to 40 years. We had gotten up early to chase some bargain electronics at dawn, and ended up in a regional department store. It was 50% off plus another 25% off if purchased before 10 AM. The deal was too good to pass up.
With Apple Watches, phones more powerful than computers we had back then, and digital clocks built into everything, the clock serves no real purpose other than it is pleasant to look at, and every November either my wife or I will say “remember when we got up early and bought that?”
Black Friday sales have gone the way of the daily print newspaper. They were once critically important to many, but while still alive, they struggle for relevance and are now on life support.
You had a good run Black Friday. Rest In Peace.
